Planning an event is no simple task. Taking into consideration the monetary, time, and labor costs, it’s crucial for event planners and sponsors to effectively evaluate the benefits and risks associated with the successful execution of their event.

Washington D.C.-based startup EventStir understands the complexities that go into event planning. Thus, it wants to help event producers minimize risk by providing crowdfunding for events. In this way, event planners can gauge the general demand for a proposed event before finalizing the planning process.

“It’s a win for attendees since they show up to events they actually care about and a win for event organizers because they can test out larger than life event ideas at no risk,” remarks co-founder Andrew Mason in a press release.

Founded in 2012, EventStir launched publicly last December. Before the official launch, Mason and co-founder Sajad Ghanizada tested the product by using it to plan the startup’s launch party, which was held on a yacht and estimated to cost $4,500 for the boat rental alone. Keeping in line with EventStir’s promise to help fully fund the venue by a set deadline, Mason and Ghanizada asked supporters to pledge $65 for a spot on the yacht.

Running the real-life test launch helped the co-founders tweak the product to boost pledge numbers. When the final product was ready to be rolled out to the public in December 2012, it had already been used to help fund over 100 events during its meta-launch period.

Anyone can sign up for EventStir without charge. The startup charges a five percent service fee for each event crowdfunded on its platform. Businesses can also sign up for the enterprise access package, which allows them to crowdfund their own events for a small monthly fee.

As much as the Internet has allowed people to connect in ways like never before, it would be ignorant to underestimate the value of face-to-face interactions. EventStir makes those in-person experiences possible and more efficient by offering a solution for individuals and organizations looking to plan exciting, unique events while minimizing risk.